IT security

LogRhythm completes USD40m funding round

LogRhythm, a security intelligence company, has finalised a USD40 million round of new equity financing led by Riverwood Capital with participation by existing investors Adams Street Partners, Access Venture Partners and members of senior management, along with new investor Piper Jaffray.

The proceeds will be used to accelerate investment in product development, sales and marketing and customer service as the company further capitalises on its strong momentum. 
 
“LogRhythm is thriving in the security intelligence market on several fronts and has accelerated growth over the last year,” says Jeff Parks, founding partner of Riverwood Capital and newest member of LogRhythm’s board of directors. “This is clear evidence that its next-generation security intelligence platform is resonating well with customers. The company has a track record of exceptional business execution and disruptive innovation, which combined with its current market leader momentum, positions it for substantial long-term growth. We’re thrilled to be a strategic partner in this important and thriving business.”
 
“As advanced threats and targeted attacks increasingly evade many traditional cyber defences, LogRhythm’s next-generation security intelligence platform empowers customers to detect them sooner so they can take action to protect their organisations. Our advanced security analytics automate focus on the highest priority threats, enabling security teams to focus resources on the areas of greatest potential impact. As a result, our award-winning solution is rapidly becoming the security intelligence gold standard for enterprises around the globe,” says Andy Grolnick, CEO of LogRhythm. “We welcome Riverwood as a partner and look forward to leveraging this new capital to accelerate innovation, expand our market reach and help our customers gain the upper hand defending against a deluge of cyber threats.”

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